28 Mar Zahrat Al-Waha Trading Company announces the Authority’s approval of the company’s request for its capital by granting free shares
Zahrat Al-Waha Trading Company announces the issuance of the Capital Market Authority’s decision approving the company’s capital increase from SAR (150,000,000) to SAR (225,000,000) through issuing (1) bonus share for every (2) existing share owned by the shareholders who are registered in the shareholders registry at the Security Depository Center as of the closing of the second trading day after the due date which will be determined later by the Company’s board, such increase will be paid by transferring an amount of SAR (75,000,000) from the “Retained Earnings” account to the Company’s capital. Consequently, increasing the Company’s outstanding shares from (15,000,000) shares to (22,500,000) shares, by an increase of (7,500,000) shares. The extraordinary general assembly shall be held within six months from this approval date and the Company shall satisfy all regulatory requirements and applicable laws.